|Bid||0.94 x 37317100|
|Ask||0.95 x 463000|
|Day's range||0.94 - 0.95|
|52-week range||0.72 - 1.27|
|PE ratio (TTM)||26.39|
|Earnings date||18 Feb. 2017 - 22 Feb. 2017|
|Dividend & yield||N/A (N/A)|
|1y target est||1.10|
Fairfax Media's shareholders are set to vote on spinning off its lucrative property advertising division, the Australian publishing giant said Friday. Like its international peers, Fairfax -- the owner of major mastheads The Sydney Morning Herald, The Age and The Australian Financial Review -- has seen profits hit by dwindling advertising revenue and circulation figures. The float of Domain had been flagged for some months, with Fairfax hopeful it would get a better market valuation if listed separately on the stock market.
Australian publishing giant Fairfax Media on Wednesday posted a return to profit following a cost-cutting drive, although advertising revenue for its major newspapers weakened further. Fairfax -- which owns The Sydney Morning Herald, The Age and The Australian Financial Review -- reported an annual net profit of Aus$83.9 million (US$65.7 million) in the year to June 30. The turnaround followed a Aus$772.6 million loss reported over a previous 12-month period.
American investment firm Hellman & Friedman has kicked off a bidding war for Australia's Fairfax Media by making a multi-billion-dollar offer to rival private equity company TPG Capital's proposal, the publishing giant said Thursday. Hellman & Friedman -- former owners of US multimedia company and German publisher Axel Springer -- made an offer to acquire Fairfax at Aus$1.225-Aus$1.250 (91-93 US cents) a share late Wednesday, the Australian firm said. The offer is higher than TPG's revised bid of Aus$1.20 made on Monday, and values the publisher at Aus$2.82-Aus$2.87 billion.